Tomasz Ostrowski

Partner, Warsaw


Tomasz “focuses on acquisition, project and real estate finance. He has experience of the wider CEE region and is appreciated for ‘the way he anticipates potential problems.’”
Chambers Europe 2014


Tomasz Ostrowski heads the Banking & Finance practice in Warsaw. He focuses on acquisition finance, project finance, real estate finance as well as general syndicated corporate finance in Poland, as well as in other parts of CEE.

He advises banks, borrowers, sponsors, investment funds and venture capital/private equity funds on numerous Polish and international financing transactions, including: (a) real estate finance transactions including, among others, hotels, commercial, industrial and warehouse projects; (b) acquisition finance transactions; and (c) project finance transactions. Tomasz has also worked on a number of high profile restructurings in Poland. Prior to joining White & Case in 2011, Tomasz worked for the Warsaw office of a Magic Circle firm, and on secondment in London.

Tomasz is recognized as a Leading Lawyer in the last several editions of IFLR1000 in the Banking, Project Finance and Real Estate Finance categories. He has also been recommended in the latest editions of the prestigious rankings Chambers Europe and Chambers Global and mentioned in The Legal 500 EMEA in the Banking & Finance category.

Bars and Courts
Solicitor of the Senior Courts of England and Wales
Attorney-at-law, Opole Bar Association of Attorneys-at-Law
Master's Degree
University of Warsaw

Faculty of Law and Administration

University of Warsaw

American Law Center at Faculty of Law and Administration (in cooperation with the University of Florida)



A consortium of financial institutions: representation of a consortium of Polish and international financial institutions in connection with PLN 5 billion financing of the Polimery Police project carried out by Grupa Azoty, consisting of a propane dehydrogenation installation (PDH installation), a polypropylene production installation (PP installation) and an auxiliary installation including storage terminal and logistics and shipment area. It is one of the largest projects ever implemented under the project finance formula in Poland.

Ghelamco: representation of Ghelamco in connection with a €221 million and PLN 45 million facility agreement entered into with Polish lenders' syndicate in connection with the financing of the construction and development of a multifunctional complex building in Warsaw (The Warsaw HUB).

Berlin Hyp AG and Erste Group Bank AG: representation of the banks in connection with €205 million refinancing of portfolio of seven office buildings located in Warsaw belonging to Immofinanz.

Play: representation of P4 Sp. z o.o. and Play Holdings 2 S. à r.l., trading as Play, in connection with obtaining financing in the form of term loan facilities and a revolving credit facility of up to PLN 7 billion (approx. €1.65 billion).

Bank Zachodni WBK S.A.: representation of Bank Zachodni WBK S.A. on the indirect financing of up to PLN 1.56 billion to guarantee the acquisition of 34.29% of the shares in AmRest Holdings SE by its largest shareholder, FCapital Dutch B.V.

Synthos S.A.: representation of Synthos S.A. in connection with obtaining financing in the form of a revolving credit of up to €220 million from a consortium of banks including PKO Bank Polski S.A., Bank BGŻ BNP Paribas S.A., Bank Handlowy w Warszawie S.A., Bank Zachodni WBK S.A., HSBC Bank Polski S.A., ING Bank Śląski S.A. and HSBC Bank plc.

Landesbank Hessen-Thüringen Girozentrale (Helaba): representation of the bank in connection with the €133 million refinancing of the existing indebtedness of six shopping malls located in Wrocław, Szczecin, Bydgoszcz, Warszawa, Łódź and Toruń.

Bank Pekao S.A.: representation of the bank in connection with the PLN 1.26 billion refinancing of the indebtedness of Żabka Polska sp. z o.o., the operator of a major retail chain of convenience stores in Poland.

Bank Gospodarstwa Krajowego: representation of the underwriter with respect to PLN 1 billion bond issuance programme of Polskie Górnictwo Naftowe i Gazownictwo S.A.

Mid Europa Partners: representation of Mid Europa Partners in connection with the financing of the acquisition of Polskie Koleje Linowe S.A. oraz Kolej Gondolowa Jaworzyna Krynicka S.A.

Panattoni: representation of an industrial space developer in connection with a number of financings of warehouses.

Kompania Węglowa S.A.: representation of Kompania Węglowa S.A., the largest coal producer in the European Union, in connection with its restructuring process and creation of Polska Grupa Górnicza Sp. z o.o., including (i) sale of KW's enterprise to PGG including 11 mines and four plants, (ii) over PLN 2.4 billion investment agreement with six new investors, and (iii) issuance of bonds in the amount of PLN 1.148 billion directed to KW’s current bondholders (including the issuance of participation bonds, which are a novelty in the Polish market).

Jastrzębska Spółka Węglowa S.A.: representation of the company in connection with debt restructuring and the agreement reached between JSW S.A. and its bondholders, i.e., PKO BP S.A., BGK, PZU S.A. and PZU na Życie S.A. Within the scope of the concluded agreement, the parties agreed on a new schedule for the repayment of the bonds of PLN 700 mln and US$163.75 mln issued by JSW under the issue program launched on 30 July 2014 and on a plan of restructuring actions to be performed by the company in order to achieve long-term profitability, including with respect to the divestiture of non-strategic assets.


International Acquisition Finance, Law and Practice, Oxford University Press 2010, (contributor)